Standard Life and Aberdeen reveal board line-up and branding post-merger

Standard Life and Aberdeen reveal board line-up and branding post-merger

The information is contained in a detailed prospectus published by Standard Life on the deal, which would create one of the world's industry powerhouses, overseeing £660 billion worth of global assets.

The prospectus said some of the savings would come from natural turnover of employees while other steps would be taken "to minimise the number of compulsory redundancies".

Britain's Standard Life said in March it had reached an agreement to buy Aberdeen Asset Management in an 11 billion-pound ($14.2 billion) all-share deal.

The two investment giants published their merger prospectus on Tuesday evening, confirming that a restructuring following the proposed tie-up will see nearly 9pc of the combined 9,000 roles go "to maximise operational efficiencies and cost synergies".

Documents released before a shareholders' meeting next month also reveal the name of the newly merged company will be Standard Life Aberdeen.

With £670 billion of combined assets under administration, the new company will be easily the UK's largest active asset manager and the second largest in Europe.

The documents, reported in the Financial Times, revealed the group would be managed by a board of 16 members drawn equally from both companies.

As announced in March, Standard Life's chief executive Keith Skeoch and Aberdeen's Martin Gilbert will be co-chief executives of the new company.

"The board will comprise the Chairman, four executive directors and eleven non-executive directors", Standard Life added in a statement.



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